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DHR International Sweeps up Parts of CTPartners Executive Search

Crain’s Chicago Business (06/23/14) Claire Bushey

DHR International has reached an agreement to acquire 17 office locations and 250 employees from CTPartners Executive Search. DHR will buy the assets from CTPartners’ lenders. Chicago-based DHR had U.S. revenues of $170 million, according to Crain’s Chicago Business.

U.S. First-Quarter GDP Revised to 0.2% Contraction

Wall Street Journal (06/24/15) Eric Morath; Kate Davidson

The economic slowdown earlier this year was not as drastic as previously estimated, according to revised data from the U.S. Department of Commerce. Gross domestic product shrank at a 0.2% seasonally adjusted annual rate in the first quarter; the agency previously estimated GDP contracted 0.7% in the quarter. Economists polled by the Wall Street Journal had forecast a 0.2% decline.

Consumer spending was stronger than previously estimated and companies stocked up more inventory, the data indicate. Despite the good news, the latest reading is the fifth time during the six-year economic recovery that the economy did not achieve at least a 1.0% growth rate for a quarter.

Still, underlying data suggest the economy may grow later this year. Consumer spending grew at a revised 2.1% rate in the first quarter, up from the previous estimate of 1.8%. Officials with the U.S. Federal Reserve forecast the economy will grow between 1.8% and 2.0% this year, according to projections released earlier this month, although that would be a slowdown from the 2014 rate.

Ikea Will Raise U.S. Minimum Wage to $11.87 to Retain Workforce

Bloomberg (06/24/15) Claire Boston

Ikea Group plans to increase its U.S. hourly minimum wage by 10% to $11.87, effective Jan. 1. The retailer hopes the increase will keep employees from moving to other merchants that have recently increased pay.

Richmond Fed: Manufacturing Sector Activity Grew Modestly

Federal Reserve Bank of Richmond (06/23/15)

Manufacturing activity grew modestly in June, according to the most recent survey by the Federal Reserve Bank of Richmond. The composite index rose to a reading of 6 from last month’s reading of 1. Shipments remained flat, while the index for new orders advanced nine points, reaching a reading of 11.

Manufacturing hiring continued to grow at a modest pace this month. The indicator gained one point to finish at a reading of 4 in June. The average workweek grew on pace with last month; the index moved down one point to end at 5. Average wages rose nearly on pace with a month ago; the index lost three points to finish at a reading of 17. Manufacturers expect to increase hiring in the next six months.

ASA Marketplace Connects Industry Professionals With the Products and Services They Need

The ASA Marketplace gets rave reviews from staffing professionals looking to purchase products and services for their companies.

Unlike any online resource of its kind, the content-rich, user-friendly ASA Marketplace features one-click access to supplier company news releases, allows searches by industry sector, delivers geographical search capabilities for firms with multiple locations, and much more.

The ASA Marketplace is the No. 1 source for suppliers to the staffing industry. Suppliers interested in getting listed or advertising should contact Antoinette Dixon at 703-253-1142.